Category Archives:

Obamacare: Is It Only 10%?

iStock_000027989602XSmallObamacare was primarily designed to help those who were uninsured due to economics and those with pre-existing conditions. That universe was estimated to be about 30 million Americans, yet no one sold the ACA based on the fact that it was designed to help only approximately 10% of Americans. The law explains that you cannot have your old policies that do not meet new government standards, that you must pay more and get more coverage whether you want that coverage or not. The reason for requiring the other coverage and paying more for the coverage is to shift a benefit to other parts of the population and shift the cost.

The business mandate was delayed until 2015 because our independent business clients and their employees represent a bigger part of the effected universe of the tax and redistribution of the wealth or benefit of broader coverage. If the electorate is unhappy today, just wait until 2015 when the effects hit our clientele, 27 million small and independent business owners and their employees. Business owners are beginning to position themselves for 2015 now. They are trying to stay under 50 employees. They are splitting up their companies into multiple companies and doing what they can do to avoid the true tax effects of the ACA. We believe most independent business owners will remove themselves from providing benefits and will more likely pay the fines or taxes associated with not providing benefits, which are affordable and small in the near term. This will push the burden down to the working class, who will clearly pay more for the same healthcare that they had previously purchased. The proponents of the ACA are basically saying that preexisting policies that do not meet new qualifications set by the Federal government are substandard or junk policies. In a free market, people have the right to choose and not have the government set standards for which they need to adhere to.

When the law talks about penalties throughout and is fought for throughout all courts in the United States, the Supreme Court finally decides its attacks.  It is time to tell Americans and independent business owners that the ACA is a tax. The Federal Government just levied a big tax on the American population disguised as something else. You could never have passed this legislation through Congress or the electorate by calling it a tax and redistribution of wealth or a benefit accruing to some and being taken away from others. The primary beneficiaries of the ACA are the 30 million uninsured and people with preexisting conditions. They are the winners. Currently policy holders, small business owners and working employees with existing policies are most likely the losers.

Some of this effect is happening today, however the big effect will occur next year after the mid-term elections. It is time to state the facts.10% of the population isn’t small when you are trying to help 30 million with a direct subsidy and benefit that they never received before. Even defenders of the ACA are now beginning to call it like it is. No one is using the bad T word (Tax). No one is using wealth redistribution. However, Medicaid rolls will swell with new applications. We are seeing it now as the current signups are predominantly going to Medicaid. Costs to purchase insurance will increase. Total TOT +1.66% cost of money being spent on healthcare in the near term we believe will go down. (This is an unintended good consequence of the ACA). Current users will be more judicious and use less healthcare to support the growing cost of new Medicaid users. The bigger effects will occur in the future as our economy, employees, and the healthcare industry transforms itself over the next decade to adapt to the new norm.

Newtek To Present at the Craig-Hallum 4th Annual Alpha Select Conference

Newtek-No-BG-300Newtek announced today that it has been invited to present at the Craig-Hallum 2013 Alpha Select Conference at the Convene Conference Center in New York City on Thursday, September 26, 2013 at 12:15PM EDT in the Nolita Room. Barry Sloane, President and CEO, will be available during the day for one-on-one meetings. To schedule a meeting, please contact your Craig-Hallum sales representative. The live and archived audio webcast of the presentation will be available in the ‘Events & Presentations’ section of the Investor Relations portion of Newtek’s corporate website at

How To Prevent Cyber Crime

cyber_2589450bPrevention will always be your best line of defense against cyber criminals. Like any other criminal activity, those most vulnerable tend to be the first targeted.

Ideally, you’ll want to work with a IT security expert to assess your specific needs and vulnerabilities, but there are certainly some universal steps you can take that will greatly reduce your likelihood of attack.

Prevention, Step One: Education and Training

You wouldn’t let your unlicensed employees drive your company van, would you? Like driving, you and any employees that have access to your business network must have a foundational education before taking the wheel.

Obamacare Employer Mandate Delayed Until 2015

0d0a0f01bff474f148519f9c84ec4991Our recent blogs and Small Business Authority Market Sentiment Survey have depicted a sense of uncertainty and lack of clarity amongst business owners as to what to do to prepare for the PPAHCA. This uncertainty has continued to exist with a persistent stubbornness. The administration, in its wisdom, has delayed a key provision in ObamaCare, the “Employer Mandate.” All businesses with over 50 employees must provide health insurance to their staff  or face fines up to $3,000 per employee.

What’s the Best Way to Deal with an Angry Customer?


Had this guy on the phone lately?

Customers get rude or angry for a variety of reasons—some justified, some not. But since you’re in business to serve your customers, you’ll likely encounter rude or angry individuals at one time or another. How you respond can make the difference between a customer who feels satisfied with the resolution and one who vows never to patronize your business again.

Here are tips for coping with a tense situation and hopefully resolving it to everyone’s satisfaction:

Obamacare Employer Mandate Delayed Until 2015

news-delayed-1211pgOur recent blogs and Small Business Authority Market Sentiment Survey have depicted a sense of uncertainty and lack of clarity amongst business owners as to what to do to prepare for the PPAHCA. This uncertainty has continued to exist with a persistent stubbornness. The administration, in its wisdom, has delayed a key provision in ObamaCare, the “Employer Mandate.” All businesses with over 50 employees must provide health insurance to their staff  or face fines up to $3,000 per employee.

How to Reject a Job Candidate the Right Way

aurizon-mines-wants-shareholders-to-reject-alamos-gold-offer-300x250Back in the day, companies could treat job applicants any way they liked. When they chose to reject a candidate, they were free to let them know or not let them know—choosing the latter approach more often than not, since there were no consequences one way or the other. If these companies were aware of any ill will these actions generated, it wasn’t something that kept them up at night.

Things are different today. Job applicants freely share their experiences, good and bad, through a wide range of social media platforms. Being treated poorly after applying for a job always makes for a good story and word travels fast if it’s a particularly bad experience.

216 Days ‘Til Obamacare is Fully Enacted — Know What To Expect?

As the full enactment of Obamacare approaches, there are many factors that business owners know to look out for.

  • Do I need to provide health insurance to my employees?
  • Should I go to an exchange?
  • How will the mandate impact my business and profitability?
  • How much are my health insurance premiums going to go up?

These are all questions that many business owners are starting to look. Below are some points that you may not have thought of that should go into your business planning.

SBA News and Tips for 2013

The first quarter of every year is traditionally a popular time for would-be small business owners to launch new endeavors. It makes sense; New Years Resolutions and whatnot. If you’re among those who plan to take the leap and become small business owners this year, chances are you’ll find yourself concerned with the doings of the Small Business Association (yes, the other “SBA”), the Federal Government entity devoted to managing and addressing the interested of small business in the US. More specifically, you may find yourself looking to – as so many people do – apply for an SBA loan. If that’s where you are in your business development process, listen up: here’s what to expect from the SBA in 2013, and tips to maximize your chances of getting the support you need.

EMV Chip Technology, Secure Electronic Payments

The world of payments is evolving. We are starting to see an evolution from typical static magnetic stripes cards to more intelligent devices such as EMV chip cards and NFC mobile phones.

Visa is paving the way to increase the security of mobile payments by quickening the migration to EMV contact and contactless chip technology in the US. The EMV technology will speed up adoption of mobile payments. This new chip technology has the added benefit of the ability to reduce use stolen payment card data. If data is compromised, a counterfeit card would be unusable without the presence of the card’s unique elements. Dynamic elements to transactions will make account data hard to steal or compromise, thus making merchant systems safer and more secure.